president, i knew bill clinton. [laughter] >> our ideas work, their ideas don't. the last four years our economy has grown 1.5% a year. that is less than half the historical average. for 70 years we average 3.3% growth a year. this president is fond of saying -- the worst economy in the history of the universe and everything by the way is george w. bush's fault. he doesn't have much historical memory when he makes that argument. any of you remember in 1978-1979? double digit unemployment, 22% interest rates, gas lines, stagflation, in 1980 and very different president got elected. ronald reagan liked barack obama and inherited a struggling economy. and reagan implemented policies 180 degrees opposite, instead of jacking up taxes. he cut taxes. instead of exploding spending and the debt he restrained the growth of spending instead of unleashing the hounds of regulators. when i think of regulators are can't help thinking of mr. burns saying release the hounds. instead of releasing the hounds of regulators on small-businesses and entrepreneurs reagan limited regulati